Albertsons Companies (NYSE:ACI) Given New $22.00 Price Target at Bank of America

Albertsons Companies (NYSE:ACI) had its target price lowered by Bank of America from $24.00 to $22.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. UBS Group raised shares of Albertsons Companies from a “neutral” rating to a “buy” rating and increased their price target for the company from $22.00 to $27.00 in a report on Tuesday, July 22nd. Tigress Financial reissued a “buy” rating and issued a $28.00 price target on shares of Albertsons Companies in a report on Tuesday, July 8th. Weiss Ratings restated a “hold (c)” rating on shares of Albertsons Companies in a research report on Wednesday, October 8th. Roth Capital reaffirmed a “buy” rating and set a $24.00 target price (up from $23.00) on shares of Albertsons Companies in a report on Wednesday, July 16th. Finally, Barclays started coverage on shares of Albertsons Companies in a research report on Monday, July 21st. They issued an “underweight” rating and a $19.00 price target for the company. Twelve equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Albertsons Companies Stock Down 0.2%

Albertsons Companies stock opened at $19.23 on Wednesday. The stock has a market cap of $10.76 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.97 and a beta of 0.49. The company has a quick ratio of 0.18, a current ratio of 0.81 and a debt-to-equity ratio of 2.25. Albertsons Companies has a twelve month low of $16.70 and a twelve month high of $23.20. The company’s 50-day moving average price is $18.57 and its two-hundred day moving average price is $20.46.

Albertsons Companies (NYSE:ACI) last released its quarterly earnings results on Tuesday, July 15th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. The firm had revenue of $24.88 billion for the quarter, compared to analysts’ expectations of $24.68 billion. Albertsons Companies had a net margin of 1.20% and a return on equity of 36.39%. The business’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. As a group, analysts expect that Albertsons Companies will post 2.14 EPS for the current year.

Albertsons Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 24th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, October 24th. Albertsons Companies’s payout ratio is currently 36.59%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its position in Albertsons Companies by 130.4% during the third quarter. Harbor Capital Advisors Inc. now owns 1,461 shares of the company’s stock valued at $26,000 after purchasing an additional 827 shares in the last quarter. West Oak Capital LLC acquired a new position in Albertsons Companies during the second quarter valued at approximately $30,000. SVB Wealth LLC acquired a new position in Albertsons Companies during the first quarter valued at approximately $32,000. Allworth Financial LP raised its position in Albertsons Companies by 98.4% during the second quarter. Allworth Financial LP now owns 1,702 shares of the company’s stock valued at $37,000 after purchasing an additional 844 shares in the last quarter. Finally, Bessemer Group Inc. acquired a new position in Albertsons Companies during the first quarter valued at approximately $40,000. 71.35% of the stock is currently owned by institutional investors and hedge funds.

Albertsons Companies Company Profile

Albertsons Companies, Inc, through its subsidiaries, engages in the operation of food and drug stores in the United States. The company’s food and drug retail stores offer grocery products, general merchandise, health and beauty care products, pharmacy, fuel, and other items and services. It also manufactures and processes food products for sale in stores.